Cryptoassets are dangerously unregulated and may give rise to criminal activities, according to two recent assessments published by the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA).

The European Commission is still hesitant to regulate cryptocurrencies, despite a warning issued by European regulators and bans imposed in other regions following the rising market volatility of digital currencies.

European Union states and legislators agreed on Friday (15 December) on stricter rules to prevent money laundering and terrorism financing on exchange platforms for bitcoin and other virtual currencies, the EU said in a statement.

Perhaps the clue is in its name but the shadow economy’s drain on economic growth and public finances can be difficult to recognise. And, unfortunately, consumers can often unwittingly contribute to its growth, writes George Simon.

Romanian police have smashed, with the help of European law enforcement agencies, a computer fraud gang accused of stealing millions of euros from unsuspecting victims, officials said Thursday (17 November).

The digital revolution in the financial sector will get a helping hand from EU regulators later this year when the European Commission tables new proposals for retail financing, with a clear objective: let the revolution flourish.

'Blending' - a form of pump-priming private sector investment, by leveraging it onto public official development aid - seems to be the new buzzword at this year's EU Development Days, according to the UN's Xavier Michon.

Blockchain is expected to have a larger impact on our business than a potential Brexit, suggests MasterCard’s deputy boss, Ann Cairns. In her view, the technology behind virtual currencies like bitcoin is “a good thing for the future”, she told EURACTIV.com.

Britain leaving the European Union could give fledgling financial technology companies an immediate shot in the arm but deprive them of expansion later on, industry officials said on Monday (11 April).

MEPs approved rules on Wednesday (7 October) to cut costs imposed on online payment services and to make them safer and more resistant to fraud. Legislators say the new measures will boost the growth of innovative online services in the payments sector.

A boom in payment-enabled smartphone manufacture and the entry of key phone and finance players into the mobile wallets market has made 2014 a watershed year, as the tide turns against the future use of cash.

President Vladimir Putin said today (27 March) that Russia would develop its own credit card system, in order to reduce reliance on Western payment card companies Visa and MasterCard and soften the potential blow from EU, US sanctions.

MasterCard commissioned Ipsos MORI to help it understand what the impact of being financially ‘excluded’ or ‘underserved’ is on people’s everyday lives. This study – both quantitative and qualitative – looked at the financially ‘excluded’ and ‘underserved’ across Europe.

Key rule changes designed to introduce more competition and update the credit and debit card payments landscape are set to ignite a lengthy dispute over technicalities when they come before committee in the European Parliament next week.